Month: July 2012

Posted in Financial News News

UBS Issues Hyperinflation Warning For US And UK, Calls It Purely “A Fiscal Phenomenon”

Supposedly warnings about the latent inflationary threat posed by simply ridiculous non-financial debt levels (as presented most recently here yesterday), not to mention financial debt (which as MF Global’s rehypothecated implosion demonstrated so vividly can be any number between minus and plus infinity, thank you London “regulators”) from the blogosphere can be ignored ($15 trillion melting ice cube that is shadow banking which also doubles as the best inflationary buffer known to man, notwithstanding).

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Posted in Financial News News

Citi, Bank Of America, And JPMorgan Enter Lieborgate: Congress Expands Libor Probe To Big Three Domestic Banks

When the Fed released its “trove” of materials confirming that the Fed indeed knew that the Barclays was manipulating its Libor submissions (amusingly explained by Ben Bernanke before Senate today that “the employee had no idea what Libor is in that case”), few were surprised, but more were confused why the congressional inquiry focused solely on the Fed’s interactions with British Barclays, instead of focusing on the three domestic banks that were part of the BBA’s USD Libor fixing committee. And only three US banks.

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Posted in News Science & Technology

Frack the Border: Cartels Using Oil Boom to Move Drugs

Ignore its proximity to the border, and the Texas fracking boom is like many others around America. Trucks hauling construction supplies barrel down country highways. Boom towns, sprawling networks of new private roads and hundreds of drilling sites have popped up. But the boom for Texas tea — oil and gas, that is — has inadvertently torn a giant hole in the Border Patrol’s defenses.

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